Auction action: historic hill town’s homes are in demand as a new wave of residents move in

A new demographic is moving in to one of the oldest towns on the Sunshine Coast.

Young professionals have been buying up big on hilly Buderim, during the past couple of years.

The historic community, established in 1860, has been home to older generations for decades and the average age of residents is 46 years old, compared to 38 years old nationwide.

But young couples and families have rushed to the area as COVID-19 restrictions ease.

Jared Young, the co-principal of Nicholl & Young Property, said the profile of the town had changed.

“It’s shifted drastically,” he said. “There was always that older demographic and they still love it here. They never leave unless they’re going to the next world, pretty much.

“However, the young professional families are coming here in droves.

“Since COVID we’ve noticed it big time. They come here, and they love it.”

A home in Buderim
No.30 Fountain Road was sold at auction for $1.92m

He said young people were attracted to Buderim because of its historic charm, greenery and its proximity to beaches and businesses and Brisbane.

“Buderim is one of the top searched suburbs in Australia, on realestate.com.au, because of its long history,” he said.

“It’s still got the village and if you look at it from the beach, you see it as a green belt.

“It’s a great family location and you can still be close to the beaches.

“People just love the feel here and that’s what drives people here.

“Plus, young families are close to the main education precincts. If you want to be near three top-tier schools -Sunshine Coast Grammar, Matthew Flinders Anglican and Immanuel Lutheran – you can live in Buderim and be close to all of them.”

Mr Young said many homes in Buderim boasted time-honoured grace.

“That’s the beauty of Buderim, it’s a very old area,” he said.

“It’s a very traditional kind of place and a lot of houses have a lot of character.

“Every house in Buderim is just so different compared to what you would find in new estates.

“And every house is unique. That’s what makes it exciting. People who move here like the variety.”

He said the interest from the younger generation had “definitely” led to increasing property values.

“It’s driving it hard,” he said.

The average home was worth $1.1m, with 32 per cent growth during the past year.

There has been a recent downturn across the Sunshine Coast and beyond as interest rate rises made an impact, but Mr Young said good-quality homes in Buderim were still appealing.

“We haven’t noticed any noticeable price changes yet with the nice homes,” he said.

“Buderim is a very stable market through history, and we haven’t noticed any back-pedalling on price.

“I think that’s largely driven by the demographics that are selling and buying. They’re a bit more affluent.”

Serenity Falls at Buderim.
Serenity Falls at Buderim. Picture: Shutterstock.

He said the young arrivals were coming from major cities.

“We’ve always had them from Sydney but there has been a big pull from Melbourne during the past 18 months and there has been big movement from Brisbane since COVID.”

Mr Young said his agency had never been busier.

“We’ve written our biggest transaction numbers,” he said.

“People are moving to coastal regional areas post-COVID but there is only a certain amount of land and properties. With the growing population, the demand and supply are out of kilter, which is good if you’re a seller.”

They have just sold three properties in three days, worth a combined $4.955m.

No.30 Fountain Road was sold at auction for $1.92m, to a young couple from Brisbane.

There were 10 registered bidders for the 1277sqm property, that has four bedrooms, two bathrooms and two car spaces.

home in Buderim
No. 30 Fountain Road has character and great views.

“It’s got good ocean views and it’s a great-sized block,” Mr Young said.

“It has a lot of character. It’s an old weatherboard, well-maintained home but it could be modernised to the coastal Hamptons style.

“It has a huge yard with a secret garden and a big view.”

Meanwhile, 20 Shrapnel Street also sold at auction, for $1.5m, while 23 Fountain Road was sold post-auction for $1.575m.

Mr Young said the latter had “the most amazing inside-outside feel.”

“There are gardens all around the property and it has glass work throughout the property, so everywhere you go inside, the gardens follow you.

“That’s quite an iconic thing for Buderim. People like the greenery and that’s one of the reasons they come here.”

A home in Buderim Sunshine Coast
No. 23 Fountain Road was sold post-auction for 1.575m.

Nicholl & Young were recently nominated as a finalist in the Real Estate Institute of Queensland awards (for small residential agency).

The agency was formed only a few years ago, when local products Nathan Nicholl and Mr Young joined forces, after being separately involved in real estate in the area for about 15 years.

“We founded the business at the start of COVID and everyone said we were idiots,” Mr Young said.

Auction results

10 Roberts Road, Palmwoods

  • Contact Agent.
  • 4 Bed, 2 Bath, 3 Car.
  • Define Property, Ross Cattle.

39 James Cook Drive, Sippy Downs

  • Contact Agent.
  • 5 Bed, 2 bath, 2 Car.
  • Define Property, Ross Cattle.

2/4 Pettigrew Street, Mooloolaba

  • Contact Agent.
  • 3 Bed, 2 Bath, 2 Car.
  • Ray White, Steven Allen.

267-227 Kureelpa Falls Road, Kureelpa

  • Contact Agent.
  • 5 Bed, 3 Bath, 5 Car.
  • Ray White, Michael Scott.

08/02 St. Martins Terrace, Buderim

  • Sold for $717,500.
  • 3 Bed, 2 Bath, 2 Car.
  • Ray White, Gregory Ward.

Article source: www.sunshinecoastnews.com.au

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